Medical expenses can be a major tax deduction, but only if they go over 7.5% of your adjusted gross income, which is ...

State Representative Erin Paré said that as it stands right now, North Carolina law does not allow an itemized deduction for losses.

W ith tax season officially underway, you'll need to know the standard deduction amount you can claim for 2024. After all, most taxpayers opt to take the standard deduction rather ...

The Congressional Budget Office (CBO) recently released its Options for Reducing the Deficit, outlining a number ...

The U.S. tax code may be notoriously complex, but understanding some basic terms can help you breeze through your tax return ...

The post Your Recent Mortgage Statement Holds the Secret to a Big Tax Bonus This Year appeared first on Real Estate News & ...

The 2025 tax filing season is underway, and there are several tax benefits that can help homeowners save money this year.

It's much easier than itemized deductions, which require careful tracking of all your deductible expenses, such as mortgage interest or medical expenses. The good thing about the standard ...

Tax deductions can work both as above-the-line deductions or as itemized deductions. Above-the-line deductions are applied to your adjusted gross income (AGI) even if you claim the standard ...

Though the major tax relief is likely to be announced for the new tax regime, taxpayers need to know the current deductions available under the old tax regime. Here’s a comprehensive guide to the key ...

Additionally, there is a tax deduction of up to Rs 50,000 under Section 80CCD(1B), on top of the Rs 1.5 lakh limit under Section 80CCE. A significant change announced in the 2024 Budget is the ...